Taxes: Once you`re married, your finances become intertwined for tax purposes, unless you agree otherwise under your prenutial agreement. It is important to be clear about your attitudes and opinions regarding the payment of taxes. A few questions you may want to ask yourself: My advice is that a prenutial agreement is a very wise financial decision and, in many ways, a very practical solution to a life full of uncertainty. But I appoint this council, although I would never personally accept my own advice on this issue. A marriage contract is nothing more and nothing less than a contract between two people. It determines the assets and liabilities that each party brings into the marriage and determines the property rights that each party has throughout the marriage and whether that marriage ends in divorce. Prenutial agreements can also come into play after the death of a spouse to ensure that their property rights and interests continue to be protected even after their death. It is not necessary for a marriage contract to be stored. Keeping a signed copy in a safe place is all that is needed.
“Marriage contracts are contracts and are usually enforced,” says Andrew Winters, a divorce attorney at the New Hampshire law firm Cohen & Winters. “However, due to their sensitive nature, they are carefully reviewed to ensure that the agreement was genuinely voluntary and does not contain any unfair or illegal provisions.” Winters says the exact requirements for applicability vary widely from state to state. However, a common requirement is that a lawyer be hired by each party. “It`s also frowned upon if the agreement was made very close to the wedding,” he adds. Duration of prenutial agreement: It is up to you and your spouse to decide how long a prenutial agreement can remain in effect. Couples may wonder if the deal will last forever or if it will eventually expire: However, if the question is that a prenup is a good financial decision, the answer is undeniably yes. Simply put, if they don`t have a prenuptial agreement, people can be put in a financial bind, while signing a prenuptial agreement determines the exact financial reality of both parties to the separation. When couples fall in love and go through the marriage process, the idea of divorce and asset sharing is further away from their thoughts.
That is quite understandable. Trapped in the excitement of starting a new life together, it can be hard to imagine a time when you could break up and separate. But the truth is that 40% to 50% of all marriages in the United States end in divorce; and part of planning for the future as a married couple is to consider all eventualities, even those you may not want to think about. For many couples, this plan includes a prenoptial agreement. Unfortunately, it is not recommended to draw up your own marriage contract. This is due to the fact that the document is extremely difficult to apply if it was created by people other than a lawyer. In summary, make sure you get good legal advice from a competent lawyer, think about the best process for you, by . B, mediation, collaborative law or traditional negotiations when drafting a marriage contract, make sure you fully disclose your assets and liabilities and have it signed on time, at least 30 days before the wedding day. .